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IMPACT OF GOVERNMENT REGULATIONS OF COOPERATIVE SOCIETY ON POVERTY REDUCTION: A STUDY OF ABEOKUTA SOUTH OGUN STATE, NIGERIA
Abstract:
Cooperatives societies have become a veritable platform for fighting poverty. In Nigeria today, poverty has become a major problem facing the populace. Several government bodies have been set up to find solution to that. Five cooperative societies from Abeokuta south metropolis, Ogun State were selected. The research objectives among others include determining the role of cooperative Society with respect to poverty alleviation. it has among others hypothesis, cooperative society plays no significant role in poverty reduction, Rate of Bad debts recorded does not have significant effects on the credit facilities granted by cooperative society. The study extracts a sample of one hundred and twenty-five respondents through simple random sampling where one hundred and two were duly filled, collected and analyzed. Questionnaire was used as the instrument for data collection and descriptive statistics of regression and correlation analysis was used to test the hypotheses. It was concluded from the findings of this study that Cooperative Societies plays a significant role in poverty alleviation. And, the supervisory authority being the government must strive for good governance and sustainable Cooperative Societies in order to encourage more people joining and making use of the available financial products which in turn will promote productivity, improvement of social welfare, create employment, improve their business enterprises and their standard of living. . Hence, it was thus recommended that Co-operative members should encourage others to join Co-operative societies so that they could have access to adequate financial and technical assistance and provision of basic inputs to alleviate their level of poverty.
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